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Regalia Buys Site for World Trade Center Americas


Regalia Developers acquired the Holiday Inn at 340 Biscayne Blvd in Miami for $65M from Sound Hospitality Management. The buyer will tear down the hotel and replace it with the mixed-use World Trade Center of the Americas, which will include 250k SF of office, ground-floor retail, 400 multifamily units and 100 hotel rooms, reports CoStar. The plan, which calls for the structure to rise 77 stories, is now fully approved. Colliers International's Lawrence Stockton and Jeff Resnick repped the seller, while the buyer repped itself. [CoStar]